Penny out on VAT Calculation


I received a Credit Note from a supplier which refunded the goods which I had returned and also included a partial P&P refund.

The Credit Note received has a refund amount of £34.77 for the goods and £1.27 for the postage. The total amount of the Credit note is £43.25 – £36.04 plus the VAT line of £7.21.

The issue is that the Quick File system has calculated the VAT refund at £7.20. So I’m a penny out.

I have no idea how to rectify this and would be grateful of your help.


            Sub Total
            £ -36.04
            £ -7.20
            Credit Note Total
                £ -43.24

Not sure how it works in other areas of quickfile but when I add purchases from scanned receipts sometimes there is a 1p difference in a suppliers VAT and QF VAT so I just amend the VAT box as I am creating the purchase. I would assume this function would be carried across the board.

@Lurch Thanks for replying. I did a bit of messing around with the figures to get the figures to match up so thanks for helping me out - much appreciated. :slight_smile:


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